Québec’s international merchandise exports up in March 2023
Québec, May 18, 2023. – Québec’s international merchandise exports, seasonally adjusted and in constant dollars, were up 4.4% in March 2023 from the previous month. This finding comes from an analysis of the most recent data on Québec’s international merchandise trade released today by the Institut de la statistique du Québec.
The products that contributed the most to this monthly increase were aircraft (+38.5%), unwrought aluminum and aluminum alloys (+24.4%), pharmaceutical and medicinal products (+33.1%), and petrochemicals, whose exports were relatively low in February.
The products whose exports decreased in March include aircraft engines (-34.6%), light fuel oils (-39.2%), turbines, turbine generators, and turbine generator sets (except aircraft turbines) (-46.8%), and waste and scrap of non-ferrous metals (-25.8%).
Exports in the first three months of 2023 were up 5.5% from the first three months of 2022.
Québec’s international merchandise imports up in March 2023
Québec’s international merchandise imports, seasonally adjusted and in constant dollars, were up 0.6% in March 2023 from February 2023.
The products that contributed the most to this increase in imports were unwrought gold, silver, and platinum group metals, and their alloys (whose exports were relatively low in February), lubricants and other petroleum refinery products (+225.0%), aviation fuel (+129.1%), and basic and semi-finished products of non-ferrous metals and non-ferrous metal alloys (except gold, silver, platinum group metals and aluminum) (+71.7%).
In contrast, imports of certain products were down in March. This was the case for light-duty trucks, vans and sport utility vehicles (-5.9%), aircraft parts and other aerospace equipment (-14.6%), aircraft engines (-53.1%), and nickel ores and concentrates (-55.7%).
Imports in the first three months of 2023 were up 0.5% from the first three months of 2022.
The situation in Canada
According to data published by Statistics Canada on May 4, 2023, Canada’s seasonally adjusted merchandise exports in constant dollars decreased by 0.2% in March 2023 from the previous month. Meanwhile, imports were down 6.2%.
For the first three months of 2023, Canada’s merchandise exports and imports were up by 8.6% and 2.0%, respectively.
|International merchandise exports and imports1 (percentage changes)|
|Annual change||Monthly change2||Cumulative change2,3|
1. In constant dollars, at 2012 prices.
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